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Taxation

Tax planning advice from the professionals at FourM

Being in business is tougher than ever in the 21st century, with a seemingly endless succession of financial demands being made on the corporate purse: commercial rates, office rent, materials, equipment, staff wage increases, transport, product development… and tax.

At FourM, we firmly believe that no business – whether a limited company, partnership, sole trader or charity – should pay a penny more in tax than is legally necessary. What’s more, we’re sure you feel the same way, so we offer a free initial consultation to ascertain whether we can help reduce your tax bill.

Our dedicated tax planning team will first carry out a detailed review of your business or personal circumstances and examine your responsibilities with regard to personal and corporate taxes; then we will work with you throughout the financial year to help you meet your fiscal obligations while keeping your tax bill as low as possible.

Tax relief for research and development

Is your business involved in any form of research and development?

Many companies are eligible for enhanced relief on qualifying R&D expenditure and have the possibility of claiming cash in the form of tax credits. However, the Revenue have started to review claims much more closely and are becoming more stringent with regard to the amount of claim being allowed.

FourM has had a long association with the R&D Specialist Division, and on the basis of our first-hand knowledge we can assist with applications, ensuring they are presented in an acceptable format to the Revenue – and thereby reducing the approval time.

Extensive range of tax planning services for business of all size

Morag Davie and Graham McLelland oversee this department, assisted by Tax manager Nicola Brown and an experienced team of assistants. There are four dedicated tax staff all with relevant taxation qualifications or studying towards them.

  • Tax services offered by our offices in Dundee and Aberdeen include:
  • Preparation of Personal Tax Returns
  • Preparation of Partnership Tax Returns
  • Preparation of LLP Tax Returns
  • Preparation of Corporate Tax Returns
  • Producing Reports covering a wide range of Tax related subjects
  • Advice on Personal Tax
  • Advice on Partnership Tax
  • Advice on Corporate Tax, including International Tax Advice
  • Advice on Tax Mitigation Products
  • Advice on Inheritance Tax
  • Advice on Capital Gains Tax
  • Advice on VAT
  • Assistance with Tax Enquiries, Investigations and Tribunals
  • Tax Planning
  • Advice on mergers, reconstructions, purchases and sales
  • Trusts
  • EIS Applications and Advice
  • R&D Tax Credit Applications and Advice

The UK tax regime is continuously becoming more complex and ever tougher penalties are being imposed for non-compliance, so getting the right tax advice at the right time is essential for both businesses and private individuals.

Tax Valuations by FourM

Any business reconstruction or company buy outs have tax consequences, and many involve share and goodwill valuations. These valuations are complex and have a direct impact on the size of the tax charge. Consequently, it is important that these valuations are professionally prepared – and our tax planning team has the expertise to provide this service.

Company Mergers and Reorganisations, Company Buyouts

Although not essential, we always recommend that advance revenue tax clearance is obtained before implementing any company restructure. This avoids any uncertainties and the possible risk of the Revenue challenging the restructure at a later date, which could result in a large unexpected tax bill.

With the benefit of our experience on tax clearances, we can assist and offer advice in the preparation of applications so that these are presented in a recognised format which should help speed up approval.

Enterprise Investment Schemes (EIS)

Enterprise Investment Schemes are an attractive way for companies to raise funds to support future growth. They allow investors to invest in qualifying trading companies with the benefit of tax relief or being able to defer a capital gains tax charge.

With new Enterprise Investment Schemes, we can assist with the completion of advance assurance applications and compliance statements in order to secure the issue of required tax relief certificates to the investors.

If any of the above-mentioned tax planning services are of interest to your organisation, please call Morag Davie on 01382 480 488  or email her to book your free initial consultation. Every day, we apply our knowledge of the law to help our clients pay the correct amount of tax – but not a penny more.

Taxation Services

Our Taxation Services department provides a number of services (detailed below) to a wide range of clients from single tax returns to large international corporate work.

Morag Davie and Graham McLelland oversee this department, assisted by an experienced team.

Services:

  • Preparation of Personal Tax Returns
  • Preparation of Partnership Tax Returns
  • Preparation of LLP Tax Returns
  • Preparation of Corporate Tax Returns
  • Producing Reports covering a wide range of Tax related subjects
  • Advice on Personal Tax
  • Advice on Partnership Tax
  • Advice on Corporate Tax, including International Tax Advice
  • Advice on Tax Mitigation Products
  • Advice on Inheritance Tax
  • Advice on Capital Gains Tax
  • Advice on VAT
  • Assistance with Tax Enquiries, Investigations and Tribunals
  • Tax Planning
  • Advice on mergers, reconstructions, purchases and sales
  • Trusts
  • EIS Applications and Advice
  • R&D Tax Credit Applications and Advice

Over the years the tax regime is becoming more complex with tougher penalties for non-compliance and so getting the right tax advice at the right time could be vitally important to your business and/or your personal circumstances.

Tax Valuations

Any business reconstruction or company buyouts have tax consequences and many involve share and goodwill valuations. These valuations are complex and have a direct impact on the size of the tax charge and it is important therefore that these valuations are professionally prepared and we have the expertise to provide this service.

Company Mergers and Reorganisations, Company Buyouts

Although not essential, we always recommend that advance Revenue tax clearance is obtained before implementing any company restructure. This avoids any uncertainties and the possible risk of the Revenue challenging the restructure at a later date which could result in a large unexpected tax bill.

With the benefit of our experience on tax clearances, we can assist and offer advise in the preparation of applications so that these are presented in a recognised format which should help speed up approval.

Research and Development Relief

Many companies may be eligible for enhanced relief on qualifying R&D expenditure and the possibility of claiming cash in the form of tax credits but the Revenue have started to review claims much more closely and also are becoming more stringent on the amount of claim being allowed. We have had a long association with the R&D Specialist Division and with this knowledge can assist with applications so that these are presented in an acceptable format to the Revenue to help reduce the approval time.

Enterprise Investment Schemes (EIS)

EIS are an attractive method for companies to raise funds to support future growth and allows investors to invest in qualifying trading companies with the benefit of tax relief or defer a capital gains tax charge.

With new Enterprise Investment Schemes, we can attend to the completion of advance assurance applications and compliance statements in order to secure the issue of required tax relief certificates to the investors.

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